Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
1150 Connecticut Avenue Northwest

DC: American Cement Manufacturer Relocates

An American cement manufacturer signed a 7,325 SF lease on the 5th floor of 1150 Connecticut Avenue Northwest in DC. The nonprofit cement and concrete advocacy group is currently occupying 8,291 SF at 500 New Jersey Avenue Northwest. The current lease was signed in 2006 for full service rent starting in the mid-$30s PSF. The new lease will commence in 2015 with full service rent starting in the mid-$40s PSF for 12 years. The move will bring the manufacturer from the Capitol Hill submarket into the Golden Triangle BID of the CBD submarket while shedding close to 1,000 SF from its space. Other tenants at 1150 Connecticut include a nonprofit farm advocacy organization and a meat and poultry trade organization.
800 North Glebe Road in Arlington

Arlington: Government IT Contractor Takes Over 20,000 SF

A government contractor that provides IT services to civilian and defense agencies, signed a lease for 20,095 SF at JBG Companies' 800 North Glebe Road in Arlington. The contractor will be paying full service rent in the high-$40s PSF for about ten years. The rent is in line with other leases in the building, such as health care equipment providers. Other prominent tenants in the building include a consulting giant, which leased about 100,000 SF in 2011. The 302,000 SF 800 North Glebe Road was named NAIOP Northern Virginia's 2012 Office Building of the Year.
8757 Georgia Avenue in Silver Spring

Silver Spring: Folk Art Organization signs for Five Years

A folk art organization signed a 3,226 SF lease at Washington Property Company's (WPC) Silver Spring Plaza building, at 8757 Georgia Avenue. The non-profit arts organization will pay full-service rent in the low-$20s PSF for five years. The organization was represented by Tom Long of Donohoe Real Estate Services, while WPC was represented by Tim Jaeger and Todd Bosley of CBRE and in house broker, Joshua Gurland. Other tenants in the building include a research firm, and a non-profit - legal services group. Silver Spring Plaza, a Class A, 240,000 SF building, was built in 1970 and fully renovated in 2001.WPC recently closed $35.5 million in permanent financing for the building.